Union Bank aims to raise Rs 3,500 crore; hires ICICI Securities, Yes Securities and JM Finance as i-banks

The Union Bank appointed investment banks such as ICICI Securities, Yes Securities and JM Finance for Qualified Institutional Bidders (QIB) issue, sources said to CNBC-TV18. With this issue, the bank is aiming to raise ₹3,000-3,500 crore.

As per details available, Union Bank is targeting to launch its QIB issue in Q4 of FY23. Also, roadshows for the QIB issue are likely to begin in the next two weeks.